All business owners dream of finding ways to make their businesses run more efficiently because that can also help them save money. In fact, businesses can lose 20 to 30 percent of their yearly revenue due to inefficiencies. Luckily, efficiency isn’t just a dream anymore. Between today’s technology and simple timesaving techniques, it’s possible to make your business more efficient and save time and money in the process.

Hold Shorter Meetings

Meetings take up more time than they should and almost no one enjoys going to them. Instead of having a long and drawn out meeting once or twice a week to keep the team updated, have one short meeting every morning. During these brief meetings, all team members get a chance to explain what they’re working on and answer any questions the rest of the team might have. These quick meetings ensure that everyone is on the same page and not wasting time working on tasks that are either unimportant or already handled.

Keep Your Information in One Place

One major source of inefficiency is not being able to find the information you need. If this information is spread throughout different folders on your computer or different filing cabinets in your office, you could spend a good chunk of time simply searching for each piece. However, if you utilize a cloud storage solution, everything you need is always in one place and easy to find. Plus, you can arrange things so all your team members have access to this information, which makes it easier for them to share work.

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Automate What You Can

There are plenty of tasks you do the same way every day that you can easily automate to free up more of your time. For example, you can use an automated system with your digital marketing to send out emails and return them based on your interactions. All you have to do is create the content. Or, if you spend a lot of time trying to get your customers to pay their invoices, you can schedule your email system to send automated payment reminders. If you’re wanting to chase your invoices in a more organized and professional manner, then you also have the option of looking at the likes of Chaser, Credit Control Automation for Xero, QBO and Sage a software package that can be integrated into different bookkeeping systems for automated invoice chasing, with little to no hassle compared to emailing your reminders out.

Accept Credit Card Payments

Accepting credit cards makes getting paid easier and faster, which are two things that every business owner loves. Credit card transactions will usually process in one or two days, which eliminates you having to wait for payments after you send an invoice to your customers and waiting for the check to clear. Plus, companies like High Risk Pay specialize in helping businesses that are new, high-risk, or have a low credit score.

Stop Sending Internal Emails

The average office workers spends around 2.5 hours every day reading and replying to emails. Rather than waste all this time, encourage your employees to call or talk in person when they have a question. It’s much faster and friendlier, which are positives for any business.

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When you’re searching for ways to get your business to run more efficiently, implementing a few of these tools and techniques can help.

Image via Flickr by amoresproject

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